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Confidence interval for the net price error

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Reference no: EM131941688

In the course of a month, 120 shopping baskets are pulled aside; there were 24,000 shopping baskets of goods sold during that month. The mean net price error per shopping basket in the sample was -6.81 cents/basket (a net undercharge), with a sample standard deviation of 3.79 cents per basket.

An approximate 95% confidence interval for the net price error per shopping basket of goods sold during the month would extend from (Q23)  cents (low) to (Q24)  cents (high).

Reference no: EM131941688

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